Railway Board’s Announcement: ICICI Bank Added for Pension Drawal, Axis Bank and HDFC Bank Continue as Options
The Government of India, Ministry of Railways, has issued a communication (RBA No. 16/2023) regarding the disbursement of railway pensions through private sector banks. Previous letters from the Railway Board (RBA No. 12/2022 and RBA No. 14/2022) mentioned the preparedness of Axis Bank and HDFC Bank for processing electronic Pension Payment Orders (e-PPOs) issued by the Railways. In addition to these banks, ICICI Bank has now confirmed its readiness to handle the technical aspects of pension disbursement.
Government of India
Ministry of Railways
Railway Board
RBA No. 16 /2023
No. 2010/AC-II/21/10/Pt IV
New Delhi, dated 15.5.2023
Pr.Financial Advisors,
All Zonal Railways & PUS
Pr. Chief Personnel Officers,
All Zonal Railways & PUs
Sub:- Disbursement of Railway Pension through Private Sector Banks.
Ref:1.Board’s Letter No. 2021/AC-II/9/2/e dated 18.02.2022(RBA No. 12/2022) and No. 2010 /AC-II/21/12(pt) dated 23.02.2022 (RBA no. 14/2022),
- Letter No. 2018/AC-II/21/2/ARPAN dated 12.05.2022 (RBA No. 29/2022)
Please connect Board’s letters cited above conveying the preparedness of Axis Bank and HDFC Bank for processing of e-PPOs issued by Railways. Now, ICICI Bank has also confirmed that the bank has completed all technical modalities in this regard. Railway Pensioners can now opt for drawal of pension from ICICI Bank.
The retiring employees may, therefore, be advised accordingly.
(Ajay Bartwal)
Joint Director Finance/CCA
Railway Board
Email ID: ajay. bartwal [at] gov.in
Ph No. 01123047018